Streams

Are Wall Street Regulations Effective?

Monday, February 17, 2014

The landmark Charging Bull in Lower Manhattan represents an aggressive financial culture. August 3, 2012 in New York, NY. (Stuart Monk/Shutterstock)

The financial meltdown in 2008 triggered nationwide outcry over the lack of regulation and oversight on Wall Street. But how much has changed since then? Leonard interviewed Larry Doyle about that in January, and we're re-airing the conversation today. Doyle argues that Wall Street, politicians, and the regulators themselves have conspired for personal and industry-wide gains while failing to protect investors, consumers, and taxpayers. In In Bed with Wall Street discusses recent scandals, such as the multi-billion dollar trading losses at JP Morgan Chase, the manipulation of interest rates via the LIBOR scandal, and money laundering with North American drug cartels and rogue nations such as Iran.

Guests:

Larry Doyle

The Morning Brief

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Comments [9]

Larry Doyle from CT

JSF,

Thanks for reading my book and spreading word of it as well. Please keep doing so and ask others to do the same. Exposing corruption truly is the initial step to ending it.

I am confident that as others read the book and spread word of it as well that the scandalous corruption will draw the attention of more inside and outside of the industry and Washington.

Sycophant? The 150 referenced documents in the book tell us all we need to know. I am merely the mouthpiece.

Thank you Leonard Lopate for having me on and rerunning this clip.

Feb. 17 2014 09:38 PM
JSF

Good on you Larry Doyle for commenting here. I don't know what that person is talking about. I have read your book and I have mentioned its existence everywhere I can on line. I wish you could do something more concrete than just write this book that is such a cogent indictment - I wish it could result in REAL regulation and REAL indictments.. what will it take? :-)

Feb. 17 2014 07:33 PM
Larry Doyle from CT

Funny how you judge me to be a "sycophant" author? Have you read my book?

Why don't we do this. Read the book and then come back and engage me and everybody else who may check out these comments.

If you have read the book, perhaps you can let me and everybody else know your opinion about the various cases of investor abuse, kangaroo courts, whistleblower violations, and misappropriation of funds at the hands of the regulators exposed in the book.

Sycophant?

Read the book just as I state in the interview.

Feb. 17 2014 06:56 PM
phil from NJ

This is so typical of Leonard's journalism. He gets a sycophant "author" to come on the air and recite his dogma. i accept that Leonard has a liberal bias and that is fine but than unless you aspire to Fox News standards, you must present both sides of an issue. The News Hour on PBS has no problem finding strong relevant voices on all issues that they present.. i am a contributor to wnyc but I will discontinue if the editorial bias is not addressed.

Feb. 17 2014 05:13 PM
MC from Manhattan

Michael Bloomberg's wealth went from 4 billion to 27 billion as mayor. In 2006 it was 5.3 billion. In 2007 it doubled to 11.5 billion. In 2008 it doubled again to 20 billion.

This was because he was working sooo hard to EARN his wealth ... what ? you mean other people earned his wealth for him ?

Why ... what does that say about the wealthy's argument that they are worth and earn their valuations all by them selves .. are you telling me that with respect to that 23 Billion "He didn't build that?"

Feb. 17 2014 01:59 PM
charles from Tribeca

Michael Bloomberg's wealth went from 4 billion to 27 billion as mayor. In 2006 it was 5.3 billion. In 2007 it doubled to 11.5 billion. In 2008 it doubled again to 20 billion. What was his part in the meltdown?

Feb. 17 2014 01:47 PM
MC from Manhattan

Gold? Ha! Well I can see Glen Beck got SOMEone to buy his snake oil..

Feb. 17 2014 01:37 PM
jgarbuz from Queens

Nah, regulations means just bureaucrats trying to herd wild cats. The Market is dangerous. Most people should stay away and put their money in FDIC insured banks, or gold unless they really, really know what they're doing. For most people, the Market is just quicksand that in most cases will just suck them in and swallow them and their money.

Feb. 17 2014 01:33 PM
jgarbuz from Queens

Nah, regulations means just bureaucrats trying to herd wild cats. The Market is dangerous. Most people should stay away and put their money in FDIC insured banks, or gold unless they really, really know what they're doing. For most people, the Market is just quicksand that in most cases will just suck them in and swallow them and their money.

Feb. 17 2014 01:33 PM

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